Dewey & LeBoeuf’s problems have lead to discussions about where its remaining lawyers might go with Greenberg Traurig, although nothing’s been confirmed, according to a Bloomberg report. And all options, including pre-packaged bankruptcy filing.
Greenberg Traurig LLP said it has held preliminary discussions regarding lawyers at Dewey & LeBoeuf LLP, the New York law firm said to be considering options including a pre-packaged bankruptcy filing.
“We have had preliminary discussions relating to lawyers at Dewey LeBoeuf but we have made no commitments, have not reached agreements and have had no involvement in the firm’s financial situation or relationships,” Jill Perry, a Greenberg Traurig spokeswoman, said in an e-mailed statement yesterday.
Greenberg Traurig has grown into a firm with more than 1,700 lawyers and 29 U.S. locations without having done a merger, Perry said in the statement. The New York-based firm regularly considers “quality opportunities” and had discussions “in that spirit,” according to the statement.
More than 60 partners have left Dewey during what the firm has called a restructuring process. The largest exiting contingent was a group of 12 insurance and regulatory lawyers who went to Willkie Farr & Gallagher LLP last month.
A team led by Dewey partners Martin Bienenstock and Bruce Bennett is considering a so-called pre-packaged bankruptcy plan, a person familiar with the matter said. Such a plan, which would be approved by creditors before it was filed, could lead to a merger with another U.S. firm, said the person who asked not to be identified because he isn’t authorized to discuss the plans publicly. The team is also examining what would happen if the firm shuts down, the person said